An Interest In:
Web News this Week
- April 14, 2024
- April 13, 2024
- April 12, 2024
- April 11, 2024
- April 10, 2024
- April 9, 2024
- April 8, 2024
Someone Shelled Out $2.1 Billion for Red Lobster. Here's What They Got, in Fish
Darden Restaurants unloaded the underperforming Red Lobster chain on Friday to investment firm Golden Gate Capital for $2.1 billion
Best known for Olive Garden these days, Darden is planning to use the proceeds of $1.6 billion after tax and transaction costs, towards paying down debt and buying back shares. At Golden Gate, Red Lobster will join the San Francisco-based firm's other restaurant properties, California Pizza Kitchen and On the Border
Golden Gate has its work cut out for it with Red Lobster, which has been losing popularity in recent years as consumers flock to cheaper fast casual alternatives like Chipotle and Panera. Still, the company is getting some assets too, including a nationally recognized name (though one that's often ridiculed) and 800 locations Read more...
More about BusinessOriginal Link: http://feeds.mashable.com/~r/Mashable/~3/VWPYp93FW0Q/
Mashable
Mashable is the top source for news in social and digital media, technology and web culture.More About this Source Visit Mashable